Redhawk Wealth Advisors Inc. Takes $230,000 Position in McKesson Co. (NYSE:MCK)

Redhawk Wealth Advisors Inc. purchased a new stake in shares of McKesson Co. (NYSE:MCK) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 342 shares of the company’s stock, valued at approximately $230,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital A Wealth Management LLC purchased a new stake in shares of McKesson in the 4th quarter worth $26,000. Millstone Evans Group LLC purchased a new stake in shares of McKesson in the 4th quarter worth $28,000. Atala Financial Inc purchased a new stake in shares of McKesson in the 4th quarter worth $34,000. Graney & King LLC purchased a new stake in shares of McKesson in the 4th quarter worth $38,000. Finally, Creative Capital Management Investments LLC purchased a new stake in shares of McKesson in the 4th quarter worth $44,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 19,370 shares of McKesson stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $705.93, for a total value of $13,673,864.10. Following the completion of the transaction, the chief executive officer now owns 51,243 shares in the company, valued at approximately $36,173,970.99. This trade represents a 27.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas L. Rodgers sold 2,891 shares of McKesson stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the transaction, the executive vice president now owns 2,544 shares of the company’s stock, valued at approximately $1,811,785.92. This represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,117 shares of company stock worth $23,526,451. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MCK. Mizuho upped their price objective on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Bank of America raised their price target on McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a report on Friday, May 9th. Wells Fargo & Company set a $766.00 price target on McKesson and gave the company an “equal weight” rating in a report on Tuesday, June 3rd. UBS Group raised their price target on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Cfra Research cut McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $694.38.

McKesson Trading Up 1.7%

Shares of MCK stock opened at $716.75 on Thursday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $731.00. The stock’s 50-day moving average price is $700.42 and its 200-day moving average price is $642.88. The stock has a market capitalization of $89.67 billion, a price-to-earnings ratio of 32.82, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. During the same period in the previous year, the firm posted $6.18 earnings per share. The business’s revenue was up 18.9% compared to the same quarter last year. As a group, research analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. McKesson’s dividend payout ratio (DPR) is 10.99%.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.